Watch List notes:

Licinius I, 308 – 324. Aureus, Nicomedia 317, celebrating the Decennalia of November 11, AV 5.24 g. LICINIVS – AVGVSTVS Laureate head r. Rev. IOVI CONS – LICINI AVG Jupiter, nude to waist, bearded and laureate, seated l. on throne with high back-rest, holding sceptre in l. hand and Victory with palm and wreath in r.; at his feet, eagle l. with wreath in beak; all on high podium inscribed on frontispiece SIC X / SIC XX. In exergue, SMNΔ. C 130 var. (Jupiter facing and SMNΓ). RIC 20 (wrong obverse legend by error). Alföldi 266 var. (Jupiter facing and SMNΓ). Bastien, Donativa 126, 14 and pl. 4, 14 (attributed to Licinius II, in error?). Depeyrot 28/1. Calicó 5098.
Rare. A bold portrait struck on a very large flan, about extremely fine / extremely fine

Ex Leu 18, 1977, 391 and Sotheby's 21 June 1990, Hunt, 861 sales. From the collection of a Retired Banker.